Monese - open UK/EUR fintech account from your phone

Monese is a UK-based fintech company, which offers EUR and GBP accounts through their app. No credit checks and no proof of address required, only your ID and a selfie. According to Monese, their customers could save an average of 88% by using Monese to send money abroad. One interesting thing – the vertical design of the debit card, which I liked.

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In short

  • Free debit card
  • Instant transfers
  • Good exchange rates
  • Contactless payments with Apple Pay or Google Pay
  • ATM withdrawals worldwide
  • Connected with Avios - earn miles for flights
  • Free Monese Plus (Classic) account for 12 months for students
  • Great financial statements
  • App and support available in 14 languages
  • Great UI
  • Joint accounts (for now they are only available in the UK)

Monese business has additional perks

  • Only for UK-registered businesses
  • Fast and easy to open
  • Free contactless card
  • Cash deposits

Eligible countries

Only EEA countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.

Pricing

Simple
  • Free contactless debit card
  • ATM withdrawals: €200 free monthly withdrawals, 2% fee after
  • Foreign currency card spending: spend €2,000 monthly for free, 2% fee after
  • Foreign currency transfers: free & instant to other Monese accounts, 2% fee when sending to non-Monese accounts (€2 minimum fee)

Classic
  • €4.95/m
  • Free contactless debit card
  • ATM withdrawals: €800 free monthly withdrawals, 2% fee after
  • Foreign currency card spending: spend €8,000 monthly for free, 2% fee after
  • Foreign currency transfers: free & instant to other Monese accounts, 0.5% fee when sending to non-Monese accounts (€2 minimum fee)
Premium
  • €14.95/m
  • Free contactless debit card
  • ATM withdrawals: free without a limit
  • Foreign currency card spending: free without a limit
  • Foreign currency transfers: free without a limit to Monese and non-Monese accounts
Business
  • £9.95/m
  • Personal Monese Plus (Classic) and business account in one
  •  An exclusively designed UK Monese Mastercard
  • Cash deposits
  • Low-priced international transfers
  • Free local payments
  • Full pricing and terms of use for Monese Business can be found here
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